09:12 AM EDT, 05/07/2024 (MT Newswires) -- Urban Edge Properties ( UE ) reported Q1 adjusted funds from operations Tuesday of $0.33 per diluted share, up from $0.32 a year earlier.

Two analysts polled by Capital IQ expected $0.23.

Total revenue for the quarter ended March 31 was $109.6 million, up from $99.4 million a year earlier.

A sole analyst surveyed by Capital IQ expected $107.7 million.

The company said it now expects 2024 adjusted funds from operations of $1.27 to $1.32 per diluted share, up from its prior guidance of between $1.24 and $1.29. A single analyst polled by Capital IQ expects $0.96.

Shares of the company were down 3.1% in recent Tuesday premarket activity.

Price: 16.55, Change: -0.53, Percent Change: -3.10